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Bookmaker News of the Week

By Martin Green08 May 2018

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Outgoing Arsenal manager Arsene Wenger has taken a lot of flak for his team’s poor results, leading to half-empty stadiums, protests and planes pulling “Wenger out” slogans through the sky. Now bookmaker Paddy Power Betfair is getting in on the act, blaming the Gunners’ poor form for a dip in its financial results. The group posted a 2% drop in revenue to £408 million in the three months to March 31, and it blamed Arsenal’s poor results for putting punters off betting. “Customers like to win,” said a spokesperson. “If you have a sustained run of bookmaker-friendly results it will have a knock-on effect on customer activity.” Read all about it at The Guardian.

Gaming giant Scientific Games, which produces a number of popular online slots, enjoyed a very strong Q1 of 2018, growing revenues by 12% to $811.8 million. "Our continued growth in revenue and AEBITDA, coupled with the lower interest costs resulting from our recent refinancing, establishes a solid platform for increased cash flows,” said chief financial officer Michael Quartieri. The press release is available at the Scientific Games’ newsroom.

The Remote Gambling Association has published guidance to help licensed gambling operators to comply with their obligations under the General Data Protection Regulation. “Unfortunately, there remains a good deal of uncertainty about the GDPR’s precise interpretation and application,” said Clive Hawkswood, the RGA’s chief executive. “This guidance is designed to help our sector navigate its way through the requirements as they are presently understood. It has had input from a wide range of stakeholders and we are heavily indebted to the ICO for the constructive and supportive advice it has provided at different stages of the process.” Find out more at the RGA website.

The Straits Times has covered the story of Bill Benter, who won close to $1 billion by writing an algorithm that cracked Hong Kong’s horse racing code. He landed the trifecta of trifectas, and his secrets are shared here.

Bookmakers in Ireland could be forced to shut down compulsive gamblers’ accounts by a new independent gambling regulator or face the prospect of significant fines. The plans from the Irish government are part of a crackdown on problem gambling in the country. The Irish Examiner has covered the story.

Scandinavian betting firm Yggdrasil has reported a 73% increase in revenue year-on-year. Chief executive Fredrik Elmqvist described Q1 of 2018 as “action packed” and said annual figures “make for impressive reading”. Read more at the company’s website.

Over in the US, a gambler won a $1.2 million jackpot with an epic parlay bet that culminated when Justify landed the Kentucky Derby. One of her selections was 40/1 in the Pick-5 accumulator bet. Business Insider has more on this.

The Dutch Gaming Authority must provide better guidance and transparency on its intentions after winning the country’s sole licence for “sport prize questions and instant lotteries”. It follows an appeal by Betfair, Unibet, Betclic and the European Gambling & Betting Association. The EGIN has the press release here.